Transparency Market Research has published a new report on the global cord blood banking services market. According to the report, the global cord blood banking services market was valued at US$12.4 bn in 2012 and is expected to reach US$15.23 bn by 2019. The report, titled 'Cord Blood Banking Services Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019', states that the global cord blood banking services market is expected to expand at a 5.60% CAGR during the period between 2013 and 2019.
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The global cord blood banking services market is currently governed by bodies such as the American Association of Blood Banks (OTCPK:AABB), American Association of Tissue Banks (AATB), Clinical Laboratory Improvement Amendments (CLIA), Human Tissue Authority (NYSE:HTA), and others. The global cord blood banking services market is predicted to experience slow development due to factors such as shortage of cord blood units and cost issues. Strict storage and laboratory requirements will further restrict the growth of the global cord blood banking services market during the forecast period.
Emerging companies wanting to capture a major share in the global market will have to face certain competitive restraints. However, opportunities such as the growing number of cord blood cell applications are expected to propel the global cord blood banking services market in the coming few years. The promising opportunities in the global market will let the emerging companies ease into the market.
The utility of cord blood stem cells in treating various medical conditions and repopulate blood has made them popular across the world. Considering the advantages of stem cell therapies, their adoption has gone up in the recent past. The global cord blood banking services market is brimming with many opportunities, as the leading companies are offering many stem cell therapies to treat various medical conditions. Some of the leading companies in the global cord blood banking services market are Cord Blood America, Inc., Cord Blood Registry Systems, Inc., ViaCord, Inc., China Cord Blood Corporation, Cryo-Cell International, Inc., and NeoStem, Inc.
The global cord blood banking services market is segmented on the basis of type of service, vendor, and geography. Based on geography, the global cord blood banking services market is divided into North America, Europe, Asia Pacific, and Rest of the World. North America led the global cord blood banking services market in 2013. The Asia Pacific region is expected to create higher growth opportunities in coming five years. Increasing disposable income, presence of government support to cord blood banking, increase in the number of births, and growing occurrence of chronic diseases is expected to drive the Asia Pacific cord blood banking services market during the forecast period.
By type of service vendor, the global cord blood banking services market is classified into the public and private sectors. The demand for private cord blood banks is higher as compared to public cord blood banks, however, public cord blood banks contain more blood units than the private cord blood banks.
Key segments of Global Cord Blood Banking Services Market
- Based on Type of Service Vendor
- Private cord blood banks
- Public cord blood banks
Based on Geography
- North America
- United States
- New Zealand
- Rest of the World
- Middle Eastern Countries
Browse the full Cord Blood Banking Services Market Report at http://www.transparencymarketresearch.com/cord-blood-banking-services.html
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